Our work - 29/01/2021

Utilising our knowledge network, Nationwide

We were appointed in 2013 to provide strategic advice and estates management services for Nationwide’s 800 property portfolio across the UK – including offices, retail outlets, processing centres and ATMs valued at more than £300m.

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The Challlenge

Nationwide wanted a partner with a strong strategic focus, a thorough understanding of the retail business, and an active presence throughout the UK. Their challenges can be best described in three key areas:

  1. Portfolio rationalisation – ensuring the administrative and retail portfolio are aligned to dynamic business requirements at an optimal cost.
  2. Cost and control – adhering to pre-approved quality process outcomes, reducing liabilities and cost as well as managing risk.
  3. Colleagues and citizenship – contributing to Nationwide’s citizenship agenda and the alignment in values and ethos between our service delivery team and Nationwide.

Our Solution

  • We were able to offer complete advice to Nationwide through a collaborative approach across multiple service lines including Treasury, Rating, Planning, Acquisition and Disposal, Rent review and Lease Renewals, Day to Day Management, as well as Building Consultancy. 
  • Secondment - we placed a Senior Director into Nationwide as Head of Estates to identity and deliver cost savings, efficiency and implement best practice across the estate. 
  • Property strategy – working in partnership with Nationwide to develop a long term property strategy for the estate that translates into a clear plan for individual properties. This has resulted in a work out strategy for non-core properties, a reduction in the number of sub-lets and generate opportunities to release capital. 
  • Identify efficiencies – we reviewed and subsequently improved business processes before eliminating steps that didn't add value. By measuring and monitoring efficiency, we identified administrative savings that can be delivered to fund front line services.
  • Cost reduction – we took a clear focus on Nationwide's costs throughout the supply chain. 
  • We aligned Nationwide's KPI’s with an efficient strategy, by developing customer satisfaction surveys and cascading/aligning these directly with property team's internal KPI’s.

The Results

  • Mobilisation and transition programme completed on time and quality.
  • Database cleansing and correction to give Nationwide full visibility/accuracy of portfolio
  • During the three years of the contract we have delivered £3.5m savings, exceeding the target of £2.6m. 
  • Retail branch disposal programme has generated capital receipts of £35.4m against a book value of £29.4m in a difficult and challenging retail climate. 
  • Disposals across the administrative estate have generated capital receipts of £6.5m.
  • Sale of ATM portfolio
  • Strong KPI performance, exceeding targets across a number of KPI’s 
  • Knowledge sharing and transferring skills & capabilities with Nationwide staff and the wider supply chain, resulting in efficiencies and cost savings 
 

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